E16: “Central Banks of the Bitcoin Space” – 7/22/2016

Hello everyone. Thanks for joining me, my name is Ansel Lindner, this is bitcoin and markets episode 16.

Today, of course I’ll talk about the Ethereum hard fork, but first I hit up a little bitcoin news.

Coinbase Implosion Timer
Found a new blog called The String Puller, and they have a good post called The Coinbase Implosion Timer. Crunching the numbers on Coinbase’s runway shows they have little time left to get a foothold.The String Puller Blog

Banks are de-risking and pulling out of many emerging markets leaving people in those countries unable to remit money or get market rates on loans. Bitt out of Barbados is trying to solve this problem. They’ve joined with the central bank there and offer an app that will accept bitcoin and turn it into Barbados Dollars through their exchange on the backend. Bitt could service multiple smaller countries’ central banks in the same fashion, or could serve as a template for other companies.

Exchanges could turn into the central banks of the future, and CBs in emerging economies would be smart to start down that road.Barbados and Bitcoin

FIBRE (Fast Internet Bitcoin Relay Engine)
Created by Matt Corallo creator of the original Bitcoin Relay Network, FIBRE switches to UDP instead of TCP, TCP being slower for error correction and bandwidth. “FIBRE sends the data using UDP with additional Forward Error Correction (FEC) data (ie data which allows you to reconstruct the full transmitted data even though some was lost)”.FIBRE article